New Delhi, April 11 – Morepen Laboratories has announced a major expansion plan to hire over 1,000 medical representatives across the next three years, with more than 200 set to join the team in FY26 alone. This move aims to strengthen the company’s presence in the domestic formulations market and deepen its penetration into both urban and rural segments.
Chairman and Managing Director Sushil Suri described the hiring drive as a “pivotal moment in Morepen’s journey”, highlighting the company's renewed focus on India’s growing finished dosage market. The expanded sales force will boost engagement with doctors, pharmacies, and patients, enabling Morepen to carve out a larger share of the Indian pharmaceutical market, currently valued at ₹2.38 lakh crore.
Morepen’s formulations segment currently generates around ₹325 crore in revenue. The company has set an ambitious target to increase this to ₹1,000 crore over the next five years. This growth will be driven by:
The company emphasized that these efforts are expected to yield higher gross margins and improved stakeholder returns.
India’s pharmaceutical market is projected to reach USD 130 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.2%. Morepen aims to leverage this upward trend by ramping up its domestic operations and securing a stronghold in the formulations space.
Following the announcement, Morepen Laboratories' shares rose 3.84%, trading at ₹49.97 on the BSE, reflecting positive investor sentiment toward the company’s strategic direction.
Focus on Domestic Growth
Chairman and Managing Director Sushil Suri described the hiring drive as a “pivotal moment in Morepen’s journey”, highlighting the company's renewed focus on India’s growing finished dosage market. The expanded sales force will boost engagement with doctors, pharmacies, and patients, enabling Morepen to carve out a larger share of the Indian pharmaceutical market, currently valued at ₹2.38 lakh crore.
Revenue Ambitions and Market Strategy
Morepen’s formulations segment currently generates around ₹325 crore in revenue. The company has set an ambitious target to increase this to ₹1,000 crore over the next five years. This growth will be driven by:
- Aggressive expansion of the medical representative network
- Launch of new competitively priced pharmaceutical products
- Enhanced market reach across tier 1, tier 2, and rural regions
The company emphasized that these efforts are expected to yield higher gross margins and improved stakeholder returns.
Industry Outlook and Market Position
India’s pharmaceutical market is projected to reach USD 130 billion by 2030, growing at a compound annual growth rate (CAGR) of 8.2%. Morepen aims to leverage this upward trend by ramping up its domestic operations and securing a stronghold in the formulations space.
Stock Performance
Following the announcement, Morepen Laboratories' shares rose 3.84%, trading at ₹49.97 on the BSE, reflecting positive investor sentiment toward the company’s strategic direction.